Airlines close lower as crude oil rallies

PadraicCassidy

NEW YORK (MarketWatch) -- Airline shares fell Monday as crude-oil futures rallied and several carriers canceled flights because of a winter storm gripping parts of the Northeast.

The Amex Airline Index ($XAL) finished down 1.2% at 58.33. Declining stocks in the benchmark index were led by shares of Continental Airlines Inc.
CAL, +5.04%
down 3.8% and AirTran Holdings
AAI, +0.00%
off by 2.7%.

Several carriers, including United Airlines
UAL, +0.28%
and JetBlue Airways Corp.
JBLU, +0.83%
canceled flights ahead of the storm.

Separately, United and its pilots are said to be near agreement on changes to work rules.

JetBlue's shares, under pressure in the wake of a Feb. 14 storm that led to days of cancellations, ended down 2.5% at $12.75.

A conspicuous gainer, Republic Airways Holdings
RJET
saw its shares move as much as 5% higher in the early going. Raymond James upgraded the stock by two notches, to strong buy, on Friday.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.